Wow, that's a rare example of a '40s sportcoat with a high center vent. I didn't think they came that big again until the late '60s.
I'd say "7-17-70" is the date, not 1949.
Where the past comes to life...so we can promptly beat it to death again.
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I had a feeling that the "1949" number by itself wasn't the year.
Or this: http://en.wikipedia.org/wiki/17-11-70
{img]http://upload.wikimedia.org/wikipedia/en/2/26/171170UK.jpg[/img]